US-China deficit surges again
1 November 2003
The US trade gap with China widened to a record level in August. The bilateral deficit with China reached US$11.7bn in August, breaking the previous high of US$11.3bn set in July. The high level of the yuan is blamed by many in Washington for a decline in US competitiveness.
The US-based National Association of Manufacturers warned that a continuation of the trend would result in the bilateral trade gap tripling to more than US$300bn in 2008.
